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Today GK Updates - 25th April 2020 Current Affairs

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25th April Current Affairs

1. Revised Lockdown Guidelines allows All Shops to Open

– MHA issued revised set of guidelines allowing further easing of lockdown restrictions from 25th April – Saturday onwards.

– As per the new guidelines, all shops will be allowed to remain open with a few exceptions in non-hotspot or non-containment zones. The biggest relief this time has been provided to shops dealing in non-essential items, as almost all shops are allowed to remain open in non-containment zones.

– However, these relaxations have been extended along with some restrictions and conditions that traders and business-men have to follow, while conducting their business.

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Severe Acute Respiratory Syndrome Coronavirus-2 (SARS-CoV-2) is the name given to the 2019 novel coronavirus. COVID-19 is the name given to the disease associated with the virus. SARS-CoV-2 is a new strain of coronavirus that has not been previously identified in humans.

 

2. World Immunization Week: 24 April to 30 April

– World Immunization Week is a global public health campaign to raise awareness and increase rates of immunization against vaccine-preventable diseases around the world.

– It takes place each year during the last week of April i.e. 24 April to 30 April. This week tries to inform individuals about the use of vaccines and their importance to fight against diseases at different ages. Vaccination protects a person’s body and helps fight against deadly diseases.

– The theme for World Immunisation Week 2020 is ‘Vaccines Work for All’.

 

3. Country’s foreign exchange reserves surge by over 3 billion dollars

– Country’s foreign exchange reserves surged by USD 3.09 billion to USD 479.57 billion in the week to April 17 due to an increase in foreign currency assets.

– According to the latest data from the Reserve Bank of India in the reporting week ended April 17, foreign currency assets (FCA), a major component of the overall reserves raised USD 1.55 billion to USD 441.88 billion. The RBI data showed that gold reserves increased USD 1.54 billion to USD 32.68 billion in the reporting week.

– While special drawing rights with the International Monetary Fund (IMF) were up by USD 3 million to USD 1.43 billion. The country’s reserve position with the IMF remained stable at USD 3.58 billion during the reporting.

 

4. Govt to suspend IBC provisions up to 1-year

– The government has decided to amend the insolvency law to suspend up to one year provisions that trigger insolvency proceedings against defaulters. The amendments to the IBC (Insolvency and Bankruptcy Code) would pave the way for banks to restructure loans.

– The coronavirus outbreak and the nationwide lockdown to curb spreading of infections have significantly impacted economic activities and the latest decision in a way provides more leeway for corporate borrowers in repaying their loans.

– As per existing norms, if a payment default exceeds 90 days then the lender concerned has to refer the account for resolution under IBC or any other mechanism permitted by the Reserve Bank of India (RBI). The lender does not have the option to restructure the loan. Currently, RBI norms prohibit restructuring of loans and resolution has to be done under IBC.

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The Insolvency and Bankruptcy Code, 2016 is the bankruptcy law of India which seeks to consolidate the existing framework by creating a single law for insolvency and bankruptcy.

 

5. National Panchayati Raj Day: 24 April

National Panchayati Raj Day is observed on April 24 in India. Every year the day is celebrated since the passing of the Constitution Act (73rd Amendment), 1992 came into force from 24 April, 1993.

Prime Minister Narendra Modi on this occasion addressed village Panchayats across the country today to mark the National Panchayati Raj Day. Mr Modi also interacted with various participants through video conferencing in view of lockdown.

PM launched a unified e-GramSwaraj Portal and Mobile App on the occasion. The Unified Portal is a new initiative of Panchayati Raj Ministry which will provide the Gram Panchayats a single interface to prepare and implement their development plan.

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Former Prime Minister Rajiv Gandhi is credited with laying the foundation of Panchayati Raj institutions in order to take democracy to the grassroots level.

 

6. UP becomes first state with in-house facility of virtual courts

– Uttar Pradesh has become the first state to have the requisite infrastructure in all its courts for hearing cases through video conferencing.

– The Allahabad High Court took a number of initiatives to facilitate court proceedings through video conferencing. Recently a software has been installed in the high court and district courts of the state.

– The Allahabad High Court and all district courts of Uttar Pradesh can now conduct multiple court proceedings through virtual courts within the court premises without any internet connectivity.

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UP Capital: Lucknow; Governor: Anandiben Patel; Chief Minister: Yogi Adityanath